Major Ecommerce Keys To Connecting With Millennial Shoppers
Many of you all may not have an idea about Millennial Shoppers - they are shoppers between the ages of 14 and 35 and considered as the most important and valuable demographic currently. Although, they are not compromising a majority of the population as they have purchasing power.
Actually, they have a whopping $600 billion in annual purchasing power. It is expected that by 2020, they will include approximately half of the U.S. workforce and by 2025, it is expected that the number will boost to 75%.
We all know that it is the market to target for eCommerce success. As every marketer will tell you to follow the money and currently, the money is with millennials. Right now, only 50% of retailers are distinguishing their marketing as per the demographics, leaving you with a huge opportunity unused latent. If you have decided to focus on the millennial, it means you are choosing an opportunity that is precious.
Here, you can find how to sell your stuff to the millennial powerhouse shopper:
Anything You Sell, Sell it Online:
Online is the best place to sell anything you wanted to sell. Recently, a survey has been conducted and it comes to know that 40% of male millennials acknowledged that they would purchase everything online if they could.
And 33% of the females said the same thing, but overall, it is a complete group of people that is comfortable with online shopping. As a result, millennials love to purchase online from the comfort of their home. What retailers are doing in reply? Only 50.5% of them have an online presence as it is indicated in Yahoo’s infographic.
What rest of retailers is doing? Developing, researching or just doing nothing. If you are running an eCommerce platform and have huge presence on the web, you are already in the top-half of retailers, who know how to market to millennials.
eComerce is one such place, where most of the millennial shoppers are spending their money. However, there are some important exceptions that you should.
Millennials prefer to purchase following things in physical stores:
- Furniture (81%)
- Drugstore buying (91%)
- Jewelry (62%)
- Shoes (76%)
- Clothes (74%)
- Home Goods (62%)
If you are selling these items at your store, still you will prefer to have an eCommerce platform along with a physical store.
Give a Shopping Experience That is Optimized For Any Device
Most of the millennials prefer to purchase products using their devices – different devices. Approximately 30% of millennials are using four and more devices a day as per the research. Obviously, smart-phones are on the top of the list.
Maximum millennials are checking their smartphones 34 times a day. Mobile is their most preferred shopping method as more than 52% of millennials are using smartphones for browsing and shopping. Some of the really takeaways are:
- Make Sure to Create Mobile Optimized Shopping Experience: We all know that big pictures, easy-to-tap buttons and flawless mobile loading need to be the part of your eCommerce marketing power. Now, Google is also offering a mobile-friendly label along with search results that indicate websites with an optimal mobile experience. You can also test your websites in order to see whether it warrants this label or not.
- Offer a Mobile Optimized Check-out Process: As we know that mobile-optimized check-out is extremely important as the responsive website as conventional long forms of a desktop check-out will not work for mobile using millennial shoppers. Recently, Smashing Magazine offers a complete side-by-side example of how a mobile optimized checkout looks vs. a non-optimized one.
Consider Social Sharing a Core Module of Your Marketing Efforts
Which is one of the excellent ways to convince a millennial to purchase? To convince a millennial to purchase, eCommerce retailer need to something exceptional as traditional influential methods are not working anymore.
For instance – 68% of millennials are completely unfazed by celebrity endorsements, according to Yahoo reports. No need to invest in such kind of marketing move as here you can find what you need to do instead of that – Go Social.
- Millennials are influencing by Social Recommendations: Millennials are those people, who are conducting social interactions on social media. At the time of making purchase decision, 66% of them are asking for their friend’s advice.
Seven out of ten millennials are surely going to ask advice from their friends before purchasing any bike or anything else. And most possibly, they are not talking to that friend in person – they prefer Facebook messenger or tweeting it.
- Millennials are also going to make social recommendations: You know that millennials do when they make purchase and make them pleased with? Surely, they will go to social channels to share as 59% of millennials are using social to share their purchasing experience no matter whether it is positive or negative experience.
Develop a Couple & Loyalty Strategy for Millennials
As we all know that coupon extract is a part of a former era, but online couponing is alive and well. Apart from this, loyalty program is also an important thought for millennial shoppers. PracticalEcommerce says that “Millennials are typically voracious users of coupons and always look for deals before purchasing.” These are people looking for a bargain.
Let’s have a look on some of the statistics to get an idea for how much millennial shoppers love coupons:
- More than 63% of millennials are likely to check-in to businesses on different social channels if it meant they receive a coupon or discount.
- 23% of people said that they would love to get coupons valued at least 50% off. And 17% of people say they would appreciate discounts of any price.
- However, 20% discount is sufficient to prompt almost 50% of respondents to visit a retail location.
The same attitude goes to loyalty programs:
- You know that 84% of consumers said that they are possibly to visit websites of retailers with loyalty programs.
- 75% of consumers prefer to switch to brands that offer actual time discounts and promotions to their smart-phones while purchasing.
- Grab the opportunity as not lots of eCommerce platforms are providing mobile coupons, so if you provide loyalty rewards, it will surely attract the shoppers who really matter.
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